Steel prices on July 5

Construction steel: On July 5, the average price of 20mm three-level seismic rebar in 31 major cities across the country was 4949 yuan/ton, an increase of 9 yuan/ton from the previous trading day. The snails fluctuated upward, and the price of construction steel in most areas in the country rose steadily and slightly in the morning. From the perspective of transactions, as futures rose in the afternoon, some market quotations continued to rise. Merchants reported that speculative demand increased, and transactions throughout the day increased. It is expected that construction steel prices will increase on the 6th.

Hot-rolled coils: On July 5, the average price of 4.75mm hot-rolled coils in 24 major cities across the country was 5,425 yuan/ton, an increase of 25 yuan/ton from the previous trading day. The black commodity futures market rose sharply today, and the spot market's early quotations rose slightly. After the rise, market transactions were generally normal. However, the current spot market performance is slightly weaker, and the growth rate is obviously weaker than the disk. The current disk and spot basis is only maintained at about 20. The short-term market is still in the off-season of demand and shipments are slightly weaker. However, the expected limited production on the disk reflects the current spot performance. On the disk, the possibility of a premium on the disk price will not be ruled out in the later stage.

Cold rolled coil: On July 5, the average price of 1.0mm cold coil in 24 major cities across the country was 6,139 yuan/ton, an increase of 1 yuan/ton from the previous trading day. Affected by the volatility of today's black futures, cold-rolled prices in some areas showed signs of supplementary increases. According to the feedback of cold rolling merchants, the actual transaction volume today is slightly higher, and the cost of resources is relatively high in the near future. Cold rolling still has some support, and merchants in many places are mainly operating at higher prices. From the downstream point of view, more on-demand purchases are the main focus, and bearish sentiment still exists. It is expected that domestic cold-rolled spot prices will fluctuate mainly within a narrow range on the 6th.

Medium and heavy plates: On July 5, the average price of 20mm common plates in 24 major cities across the country was 5,338 yuan/ton, an increase of 4 yuan/ton from the previous trading day. Recently, there have been more centralized inspections in steel mills, mainly in northern China. The output of the medium plate has fallen from high levels, but the overall maintenance time is less. It is expected that the output will rebound in the next few days. In terms of circulation, although the futures market has rebounded under the expectation of production restrictions, the speculative demand in the market in the near future is almost zero, and the later circulation end inventory is still facing greater pressure. In terms of demand, construction machinery may return to normal from a high boom in the future, and steel structures will slow down due to capital factors, and overall demand will decline. It is comprehensively expected that the price of medium and heavy plates will consolidate in the short term.